News

Business digest

The Quinn Group has acquired the former LG Philips building from the Welsh assembly for £133m (€195m) and aims to create 460 jobs manufacturing radiators in Newport.

Smurfit-Stone Container Corp is permanently closing containerboard capacity and laying off 565 employees at locations in Florida, Quebec and New Brunswick. The company is removing about 700,000 tons of container- board capacity.

Isme said a crisis in childcare is a stumbling block to recruitment for small businesses. It claimed childcare costs were the highest in Europe and that an additional 15,200 places are required every year. oThe volume of retail sales increased by 3.4% in June compared to the same month last year. Excluding new car sales the annual increase was 5.6%.

Carmel Foley, the director of consumer affairs, said her office had received complaints that some petrol retail outlets were charging prices higher than those displayed, risking prosecutions and fines of up to €3,000.

Iceland announced the closure of its seven frozen food retail outlets in Ireland with the loss of 160 jobs blaming the decision on mounting losses. In another jobs blow the tools manufacturer Boart Longyear is closing its Shannon plant with the loss of 55 jobs.

IAWS Co-op has invested in a new company that will recycle electrical equipment. This follows the introduction of new rules on the disposal of household appliances and electronic equipment.